A year after financial troubles led to its conservatorship, Texans Credit Union's fiscal health appears to be improving.
Crippled by mounting commercial loan losses, the $1.6 billion Texans Credit Union was placed in conservatorship on April 15 by the NCUA.
The $950 million Elevations Credit Union has hired Jay Champion, the former CEO at Texans Commercial Capital LLC, to lead a business lending and services initiative.
Green Hills Development Company LLC and Heartland Development Company LLC filed suit against CU Liquidity Services LLC, formerly known as Texans Commercial Capital LLC.
The $1.6 billion Texans Credit Union said it plans to fight against a suit that claims the cooperative's commercial real estate CUSO did not follow through on providing loans for a failed Mississippi project.